As far as my prot spec goes, I think it's fine. My DPS in 5-mans is still first or second, and apparently I was first DPS on 10-man Blood Princes. I need to leave my own recount on instead of asking, though.
Threat problems only happen when someone attacks the wrong target. In PoS, I was doing 4k, a DK was at 6.5k, and a hunter and mage were maxing at 2k. The hunter and mage were pulling off me, and it was usually that fifth caster way off in the back I'm waiting for Avenger's Shield to hit with. The DK never went over my threat.
For holy, I really can't see the problems people are having. Maybe I'm too distracted by the new exorcism spam. I've been beating DPS as a healer.. and a tank. It's awesome. But I haven't raided as holy yet. VoA doesn't count, and I had recount off anyway so I have no idea how I did. No one died, and it seemed like I was useful.. I don't know, I'll have to see next week when my normal 10-man restarts ICC.
However, I hate Holy Power. It doesn't do anything useful. For prot, at least until 81, the only use for HP is SoR. If SoR had a 9 second CD and simply hit for 120% AP at all times, there wouldn't be any difference to the rotation. It's not any better for holy. Word of Glory hits somewhere between Holy Light and Divine Light, while a crit HL is pretty much the same. A crit holy shock makes HL cast at less than a second, so WoG being instant doesn't mean much.
I tried ret on a 63 alt, because I don't want to spend all the gold to respec twice, but divine storm is terrible and not worth the talent point. Again, they could have put Templars Verdict on a 13.5 second cooldown that scales with haste like CS does plus procs to reduce the CD like the old T10 did for DS and it would have been the same.